Silvergate, the financial institution oriented to the crypto industry, released data related to its fourth quarter, 2022. Following the collapse of one of its partners, crypto exchange FTX, the bank saw over $8 billion in customer withdrawals leading to rumors about its potential bankruptcy.
Today, Silvergate has set some minds and hearts at ease as the bank revealed that it has enough assets and liquidity to continue its operations. According to the data, the financial institution has over $11 billion in total assets as of December 31s, 2022, with $6 billion in deposits.
Hope At The End Of The Tunnel?
However, as the image above shows, the financial institution did experience massive losses across the board. Per their financial report, deposits fell by over $8 billion while the company recorded a net loss of $948 million.
The bank’s flagship product, the Siilvergate Exchange Network (SEN), enables 24/7 transfer between its customers and saw a 4% spike in its dollar transfers i
We współpracy z: https://bitcoinist.com/the-crypto-silvergate-positive-data-shares-rebound/
